What is an ISA or Individual Savings Account, and should i invest in one?

I'm 16 and wish to invest a couple of hundred pounds in an ISA, which i think will be the best, non-risk option for me; is it a wise thing to do, and does anybody have any ideas on where to get the best ISA with the most interest, and also if they've proved to be a successful investment to anybody? Thanks.

I guess the best explaination is that it's a form of tax-free savings account, and one of the few better ideas of this idiot Labour government.
There are 2 or 3 different kinds, the sort you probably need to be looking at being a mini-cash ISA... explained on this site:
http://www.fool.co.uk/savings/informatio... (best place to look up stuff about money).
The HALIFAX would probably be the best place to start looking to open one:
http://www.halifax.co.uk/isas/taxfreesav...

The other option you may want to consider being Premium bonds:
http://www.nsandi.com/products/pb/index....

Either of these 2 would probably be good bets, especially with the stockmarket (where the real money can be made or lost... see fool.co.uk again) being a bit volatile at the moment.

that sounds like a regular run of the mill standrad banking savings account. Go for it.

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